Approved Trade Source Systems

SwapClear transactions must be submitted to LCH for clearing via an Approved Trade Source System (as defined in the applicable LCH rulebook).  

Below is a list of Approved Trade Source Systems for SwapClear:

  • MarkitWire*
  • Bloomberg LP* (Bloomberg VCON)
  • Bloomberg SEF
  • Bloomberg Trading Facility Ltd
  • DWSEF LLC ( DealerWeb SEF )
  • TWSEF LLC ( TradeWeb SEF)
  • TradeWeb Europe Ltd
  • Tera Exchange
  • Traiana*

*middleware providers

 

Execution Venues and Connectivity

SwapClear is able to receive matched trades from a number of execution venues, including Swap Execution Facilities (SEF), Derivatives Contract Markets (DCM), Multilateral Trading Facility (MTF) or Organized Trading Facility (OTF) . These execution venues may connect via SwapClear's proprietary direct connectivity platform as an Approved Trade Source System, or connect indirectly via a middleware provider that is an Approved Trade Source System, such as MarkitWire or Traiana.  

 

EU Commitments

In accordance with the conditional clearance decision adopted by the European Commission on 13 January 2021 for LSEG’s acquisition of Refinitiv, LSEG hereby publishes the text of the commitments relating to OTC Interest Rate Derivatives (the OTC IRD Commitments), which will remain in place until January 2031. Consistent with SwapClear’s obligations under the OTC IRD Commitments, SwapClear does not charge any clearing or compression fees for OTC IRDs clearing services that discriminate based on the source of the trade (i.e. by trading venue or middleware provider).

 

Any trading venue or middleware provider that has reason to believe that LSEG has failed to comply with its obligations as set out in the OTC IRD Commitments can file a complaint pursuant to the fast-track dispute resolution procedure set out in the OTC IRD Commitments by emailing LSEG at OTCIRD-Commitments@lseg.com (with a copy to the monitoring trustee (see contact details below)) setting out in detail the reasons leading it to believe that LSEG is failing to comply with the requirements of the OTC IRD Commitments. Trading venues and middleware providers are encouraged to contact LCH to attempt to resolve their concerns prior to formally filing a complaint pursuant to the fast-track dispute resolution procedure.

 

The Monitoring Trustee appointed by LSEG to carry out the functions specified in the OTC IRD Commitments is ALCIS ADVISERS GmbH. To contact ALCIS ADVISERS in relation to the OTC IRD Commitments, please email David Cayet at david.cayet@alcis-advisers.com or Ulrich Puls at ulrich.puls@alcis-advisers.com.

 

See link to commitments document below.